Business

Yellen says Fed on track to keep trimming stimulus

(Reuters) – Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was “far from complete.” In her first public comments as Fed chief, Yellen said the central bank would need to keep its eye on a broad range of labor market indicators, not just the unemployment rate, as it continued to assess the health of […]

Flappy Bird creator says popular game will fly no more

(Reuters) – The developer of Flappy Bird, currently the most popular free mobile game on Apple App Store and Google’s Android Play store, has announced that he is taking the game down at midnight (1700 GMT) on Sunday. Nguyen Ha Dong, a Hanoi-based game developer, announced the grounding of the addictive game in a Tweet at 1900 GMT on Saturday in which he also apologised to Flappy Bird players. “22 hours from now, I will […]

Nestle looking at options to reduce L’Oreal stake: Bloomberg

ZURICH Sat Feb 8, 2014 12:10pm EST (Reuters) – Nestle, the world’s biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L’Oreal , Bloomberg reported on Saturday, citing sources with knowledge of the matter. Nestle has told L’Oreal of its intentions, and the two companies have discussed the issue with banks, though no decision over the possible timing of any sale, which could take years, has been made, […]

Will U.S. stock buyers beat back the bear?

By Angela Moon NEW YORK Fri Feb 7, 2014 7:58pm EST (Reuters) – After the S&P 500’s first weekly gain in a month, investors will see next week whether the U.S. stock market’s rally of the last two days is the shape of better things to come – or if this year’s weakness will turn into a full-fledged correction. The S&P 500 rose 0.8 percent for the week, scoring a weekly gain for the first […]

Asian shares gain on hopes for U.S. jobs growth

(Reuters) – Asian shares regained a measure of stability on Friday, stepping further away from five-month lows after a strong rally on Wall Street and hopeful signs the upcoming U.S. payroll report could put some global growth concerns to rest. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.8 percent, a day after the index posted its biggest gains in over two months. The index bounced 2.2 percent from a five-month low hit on Wednesday. […]

Philippine stock market extends gains

MANILA, Feb. 6 (PNA) — The Philippine stock market finished slightly higher along with other Asian bourses, extending its gains for a second day on Thursday, following the positive closings from Wall Street. The benchmark Philippine stock exchange index (PSEi) edged up 6.18 points to 5,914.59 from previous day’s 5,908.41 finish. Brokerage firm 2tradeasia.com said local equities continued to mirror follow-through positive closings from Wall Street. This was supported by hopes for another status quo […]

Disney profit beats forecasts with ESPN, ‘Frozen’

(Reuters) – Media company Walt Disney Co reported higher profit for the quarter that ended in December, beating Wall Street expectations with growth at sports network ESPN and the strong performance of its animated hit film “Frozen.” The company posted adjusted earnings per share of $1.04, according to a statement released on Wednesday, exceeding the 92 cents average estimate of analysts surveyed by Thomson Reuters I/B/E/S. Net income for the quarter rose to $1.8 billion, […]

Aston Martin recalls 17,590 cars due to counterfeit material

(Reuters) – Aston Martin is recalling most of its sports cars built since late 2007 after discovering a Chinese sub-supplier was using counterfeit plastic material in a part supplied to the luxury sports carmaker. Aston Martin, which is owned by Kuwaiti and private equity investors, is recalling 17,590 cars, including all of its left-hand-drive models built since November 2007 and all right-hand-drive models built since May 2012, affecting about 75 percent of all vehicles built […]

GM, Ford sales stall

By Ben Klayman, Bernie Woodall and Deepa Seetharaman DETROIT Mon Feb 3, 2014 2:51pm EST (Reuters) – Four of the top five U.S. auto sellers on Monday blamed extreme winter weather for poorer-than-expected sales in January, as analysts and executives predicted a rebound in February and March. U.S. automakers Ford Motor Co and General Motors Co as well as Japan’s Toyota Motor Sales USA and American Honda Motor Co saw auto sales plummet in January, […]

Sony, Lenovo in talks on possible PC business alliance: report

(Reuters) – Japan’s Sony Corp and Chinese technology company Lenovo Group are in talks about a possible joint venture to take over Sony’s loss-making Vaio PC business overseas, Japanese broadcaster NHK reported on Saturday. The Japanese electronics and media giant called the report inaccurate while acknowledging that it was looking at various possibilities for the unit. “Sony continues to address various options for the PC business, but the press report on a possible PC business alliance between Sony and Lenovo […]

Nadella outran better-known candidates for Microsoft CEO

(Reuters) – The race to determine the next head of Microsoft Corp looks to have ended where it began, with the software giant poised to take the route of least risk and tap rising internal star Satya Nadella for the job. After a bruising, five-month selection process, the list of contenders was cut to six serious candidates, with the chief executive job nearly going to Ford Motor Co CEO Alan Mulally, an outsider favored by […]